POSCO Engineering & Construction Wins $300 Million Contract for Construction of Rolling Stock Depot for North-South Railway in the Philippines

[Asia Economy Reporter Yoo In-ho] POSCO Engineering & Construction announced on the 13th that it has solely won the contract for the construction of a railway vehicle depot in the Philippines, worth $290 million (approximately 350 billion KRW), commissioned by the Philippine Department of Transportation.

This project is part of the 53 km long North-South Railway construction connecting Malolos in northern Manila and Clark, involving the construction of a railway vehicle depot in the Clark Special Economic Zone in the Philippines. The construction period is four years from the start date. The site area is 330,000㎡, where 48 buildings will be constructed.

The Philippine government expects that once the North-South Railway is completed, travel time between the capital Manila and Clark will be drastically reduced, contributing to the revitalization of the country's economy and tourism.

POSCO Engineering & Construction has been recognized for its competitiveness by successfully constructing numerous railway vehicle depots, including the Donghae Nambu Line Deokha Vehicle Depot, Seongnam Yeoju Vehicle Depot, and Daegu Urban Railway Vehicle Depot.

A POSCO Engineering & Construction official stated, “We will further strengthen POSCO Engineering & Construction’s position in the overseas railway construction market,” and added, “We will solidify partnerships with Philippine partner companies and strive to practice our corporate citizenship management philosophy.”